Measuring how much Life Insurance one needs is really not a difficult task. It just takes a bit of calculating. This is a task really best left to be accomplished with the assistance of a professional, such as those at Asher Custom Benefits.
At Asher, we will use a Life Insurance Calculator to evaluate the amount, and exact type, of Life Insurance that fits your needs. In this calculator, it will include such things ongoing and current expenses, projected expenses, such as a home, automobile, university, and funeral, and various other expenses that you may think that you may have upcoming for your family.
Now, if one was just to add all of these expenses together, you would have a policy that could be many times larger than what is necessary. One also needs to subtract current assets from this, if they so desire.
Certain types of Life Insurance can be somewhat of an investment, if not utilized before necessary, gaining value tax free until its withdrawal. If this is the case, and it is affordable, you may think of considering a larger Whole Life policy than you NEED, as was explained in Life Insurance Simplified.
As always, feel free to contact us with any questions you may have. We are here for you!
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